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The board of Prestige Estates Projects has approved raising ₹500 crore through issuance of non-convertible debentures to three schemes of Aditya Birla Sun Life Mutual Fund. The debentures, which have a maturity of 4.5 years, have been proposed to be issued to Aditya Birla Sun Life Medium Term Plan, Aditya Birla Sun Life Corporate Bond Fund, and Aditya Birla Sun Life Dynamic Bond Fund. Shares of Prestige Estates Projects on Friday ended 1.3 per cent higher at ₹308.55 on the NSE.
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